All Employees: Manufacturing: Durable Goods in Pennsylvania
SMU42000003100000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
330.80
Year-over-Year Change
-4.94%
Date Range
1/1/1990 - 1/1/2024
Summary
The 'All Employees: Manufacturing: Durable Goods in Pennsylvania' trend measures the total number of manufacturing jobs in the durable goods sector within the state of Pennsylvania. This data is a key indicator of economic activity and employment conditions in the state.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic series tracks the total employment levels in durable goods manufacturing in Pennsylvania. Durable goods are products designed to last and have a lifespan of at least 3 years, such as machinery, electronics, and automobiles. The trend provides insight into the health and productivity of Pennsylvania's manufacturing base.
Methodology
The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this trend to assess the strength of Pennsylvania's manufacturing sector and make informed decisions about economic development strategies.
Key Facts
- Pennsylvania is a major manufacturing hub, producing a wide range of durable goods.
- Durable goods manufacturing accounts for over 10% of Pennsylvania's total employment.
- Employment in durable goods has fluctuated over the past decade due to economic conditions.
FAQs
Q: What does this economic trend measure?
A: The 'All Employees: Manufacturing: Durable Goods in Pennsylvania' trend measures the total number of jobs in the durable goods manufacturing sector within the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the health and productivity of Pennsylvania's manufacturing base, which is a key driver of the state's economy. It is used by policymakers and economists to assess economic conditions and make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the strength of Pennsylvania's manufacturing sector and make informed decisions about economic development strategies, such as investments in infrastructure, workforce training, and industry incentives.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical delay of one to two months. There may be occasional revisions to the historical data based on updated survey responses.
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Citation
U.S. Federal Reserve, All Employees: Manufacturing: Durable Goods in Pennsylvania (SMU42000003100000001A), retrieved from FRED.